Peak Financial Advisors LLC Acquires 50,967 Shares of Warner Music Group Corp. $WMG

Peak Financial Advisors LLC boosted its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG) by 207.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,505 shares of the company’s stock after purchasing an additional 50,967 shares during the quarter. Warner Music Group comprises about 1.0% of Peak Financial Advisors LLC’s investment portfolio, making the stock its 29th largest position. Peak Financial Advisors LLC’s holdings in Warner Music Group were worth $2,316,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in shares of Warner Music Group by 57.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 879 shares of the company’s stock worth $30,000 after buying an additional 321 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Warner Music Group by 23.5% in the 3rd quarter. US Bancorp DE now owns 1,729 shares of the company’s stock valued at $59,000 after acquiring an additional 329 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Warner Music Group by 1.1% in the second quarter. Thrivent Financial for Lutherans now owns 34,350 shares of the company’s stock worth $936,000 after acquiring an additional 358 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Warner Music Group by 2.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 16,268 shares of the company’s stock worth $554,000 after acquiring an additional 438 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Warner Music Group by 120.1% during the third quarter. Nisa Investment Advisors LLC now owns 865 shares of the company’s stock worth $29,000 after acquiring an additional 472 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WMG. Scotiabank raised Warner Music Group from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, February 13th. Jefferies Financial Group cut their target price on Warner Music Group from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of Warner Music Group in a report on Monday, December 29th. Citigroup lowered their price target on Warner Music Group from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Warner Music Group in a research note on Wednesday, January 14th. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.69.

Warner Music Group Stock Up 1.0%

Shares of NASDAQ:WMG opened at $23.89 on Thursday. Warner Music Group Corp. has a 1 year low of $23.34 and a 1 year high of $34.63. The business has a 50 day simple moving average of $28.34 and a two-hundred day simple moving average of $30.12. The firm has a market capitalization of $12.48 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 0.39 and a beta of 1.24. The company has a debt-to-equity ratio of 5.30, a current ratio of 0.70 and a quick ratio of 0.69.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Warner Music Group had a return on equity of 38.33% and a net margin of 4.43%.The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts predict that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Wednesday, February 18th were paid a $0.19 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $0.76 dividend on an annualized basis and a yield of 3.2%. Warner Music Group’s dividend payout ratio (DPR) is presently 131.03%.

About Warner Music Group

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.